topic Re: New Barclaycard Arrival Strategy in Credit Cards

New Barclaycard Arrival Strategy

SnackTrader — Sun, 12 May 2013 13:12:06 GMT

So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? Modcut

edit by webhopper

Re: New Barclaycard Arrival Strategy

09Lexie — Sun, 12 May 2013 13:10:59 GMT

@SnackTrader wrote:
So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? Modcut

I have been pondering whether to pull the trigger as well. Im going to NY at the end of the month- so I dont need it for that trip but I am planning a 2 trips at the end of the year.

Modcut I had this on my fall spree list but Im afraid the sign up bonus will be gone

To answer your question- it really sounds like a win win---PC it next year and be done with it.

edit by webhopper

Re: New Barclaycard Arrival Strategy

cottoncrown — Sat, 11 May 2013 05:24:15 GMT

Haha, this is exactly why they give signup bonuses!

Re: New Barclaycard Arrival Strategy

Anonymous — Sat, 11 May 2013 05:26:27 GMT

even without the sign up bonus, the 2x miles and 10% back on redemptions puts it ahead of the venture card and any other 2% card out there. might even put it on par with the CSP.

Re: New Barclaycard Arrival Strategy

SnackTrader — Sat, 11 May 2013 05:34:21 GMT

I totally agree that it is a good card! It's just not one that would typically fit my needs except for the signup bonus. I will likely never get the CSP for the same reason unless someone can prove to me a way in which it significantly increases the value of my UR points for things on which I would actually use UR points.

But the signup bonus!?!? Someone talk me off or over the ledge - I need one way or the other haha! This indecision is very out of character for me.

Re: New Barclaycard Arrival Strategy

09Lexie — Sat, 11 May 2013 06:02:36 GMT

Sleep on it. Look at it again tomorrow after you thought about those things that are telling you no, you don't need it this card. You already know if you want it you could have it - so think about all the reasons why you don't want it in your wallet.

Re: New Barclaycard Arrival Strategy

Anonymous — Sat, 11 May 2013 10:59:45 GMT

hmmm i think it depends.

do you have any close friends or relatives that travel? if so, you can pay for them and redeem your miles.

the no AF version does not give 2% across the board, so it's going to be just a medicore card that you'll definitely sockdrawer.

For me, the $400 for 1 inquiry and some AAoA hit was worth it.

Re: New Barclaycard Arrival Strategy

SnackTrader — Sat, 11 May 2013 13:46:15 GMT

Do you any of you know approximately how long it takes Barclays to send a card? Or do you remember from your experience?

I have travel coming up and don't want the card to arrive while I'm away...

If it takes a week or longer, I might have to wait to apply anyway.

Re: New Barclaycard Arrival Strategy

youngandcreditwrthy — Sat, 11 May 2013 14:34:31 GMT

Barclay's will charge you to expedite it-$29.99.

Bah! I can't wait to recon for this card!!!!!!

Re: New Barclaycard Arrival Strategy

Anonymous — Sat, 11 May 2013 14:40:51 GMT

Barclays barely let me squeak in my Sallie Mae World card a month ago with a recon. This is definitely on my Fall app list though as well. Hope the sign up bonus is still there.

Re: New Barclaycard Arrival Strategy

youngandcreditwrthy — Sat, 11 May 2013 14:49:41 GMT

I'll prob have to move over a couple thousand from my $7700 Trave Amex to open this one!

Re: New Barclaycard Arrival Strategy

LS2982 — Sun, 12 May 2013 13:08:47 GMT

@SnackTrader wrote:
So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? Modcut

Modcut

Go for it Snacktrader!!!

edit by webhopper

Re: New Barclaycard Arrival Strategy

Anonymous — Sun, 12 May 2013 13:07:28 GMT

@LS2982 wrote:
@SnackTrader wrote:
So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? modcut

Modcut

Go for it Snacktrader!!!

edit by webhopper

Re: New Barclaycard Arrival Strategy

gmason — Sat, 11 May 2013 15:56:53 GMT

@SnackTrader wrote:
Do you any of you know approximately how long it takes Barclays to send a card? Or do you remember from your experience?

I have travel coming up and don't want the card to arrive while I'm away...

If it takes a week or longer, I might have to wait to apply anyway.

@SnackTrader, so many good points and glad you posted this. I now have some cards that I wish I hadn't applied for early on, but guess I'll SD them. However, the BarclayCard Arrival hits my needs almost perfectly and will likely become one of my most used cards (outside of 5%/6% rewards categories).

I was approved on Thursday, May 2nd, and I received the card yesterday on Friday, May 10th. I'm in CO and return address said it was coming from PA.

Re: New Barclaycard Arrival Strategy

SnackTrader — Sat, 11 May 2013 16:03:06 GMT

Thanks all!

I guess I will be leaving the Garden for the first time in 4+ months later this week. Lets hope the signup bonus sticks around that long because that is really the only reason to get this card. I will use the card for 12 months (maybe less) pocket the cash and then PC to the no AF card or another Barclays card if that's allowed. It sucks that I have to take an INQ and a new account, but $400 is a pretty nice chunk of cash and will help to force me to take a vacation. I haven't taken more than a day of leave at a time in almost a year!

Re: New Barclaycard Arrival Strategy

09Lexie — Sat, 11 May 2013 18:38:17 GMT

Hope you get the bonus!

Re: New Barclaycard Arrival Strategy

Anonymous — Sat, 11 May 2013 22:42:46 GMT

grats in advance!

Re: New Barclaycard Arrival Strategy

SnackTrader — Sun, 12 May 2013 01:09:17 GMT

In advance??? Lol - you have far too much confidence in me.

Re: New Barclaycard Arrival Strategy

myjourney — Mon, 13 May 2013 00:35:01 GMT

@09Lexie wrote:
@SnackTrader wrote:
So I've been drooling over the signup bonus for the Arrival card with an AF for a few weeks. I've been very close to pulling the trigger multiple times and don't feel that I have much to worry about with approval. My biggest concern is finding a use for:
A) the rewards
B) the card and it's presence on my credit report
C) the annual fee

So with that in mind, here is my newest strategy:
Get the card. Get $400 bonus. Hold it until I'm ready to book a trip (with the potential for a trip in December or early January). In the meantime, use the card in place of my CapitalOne Cash Rewards, since I will be earning an extra 0.50% on non-Freedom/BCP/Forward purchases. However, I would likely stop trying to accumulate points with that card once I pay for that trip since I don't travel often. I would prefer the flexibility of cash rewards over travel rewards for the time being. Then, after the first year is up, I would PC to the no AF version and essentially sock drawer the card.

This still leaves me in a weird place on having an unnecessary line of credit on my report... I guess I just don't want to have an open or closed account that I never really needed reporting for the next 10+ years. It will cost my AAoA in the short term (I'm working hard to get it up to 5 years, but that looks unlikely given my credit card obsession) and will look odd in the mortgage process down the road. No offense to those out there with 35 revolving accounts, but I don't want to do that.

So what does everyone think? Good plan? Bad plan? modcut
modcut I have been pondering whether to pull the trigger as well. Im going to NY at the end of the month- so I dont need it for that trip but I am planning a 2 trips at the end of the year.

modcut I had this on my fall spree list but Im afraid the sign up bonus will be gone

To answer your question- it really sounds like a win win---PC it next year and be done with it.

Turn my back for a one day and it's a lot of drolling going on Ha ha ha

edit by webhopper

Re: New Barclaycard Arrival Strategy

myjourney — Sun, 12 May 2013 04:26:45 GMT

SnackTrader it's a good signup bonus worth thinking about